Secret of Ciputra Success Stories Starting a Business Without Capital

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Entrepreneur, Start, Start Up, Career

A well-known Indonesian entrepreneur, Ciputra, died in Singapore on Wednesday morning, 27 November 2019. The man who breathed his last at the age of 88 years was famous as a pioneer of real estate in Indonesia. He successfully built a variety of malls, hotels, housing, to recreation areas. Being one of the richest people in Indonesia, it turned out that Ciputra’s success was achieved with difficulty.

Who does not know Ciputra? Coming from a poor family, Ciputra was a successful person who started a career from the bottom with a business without capital in the property sector. Based on a simple family from the Parigi region, Central Sulawesi, Ciputra was born on August 24, 1931 under the name Tjie Tjin Hoan.

He is known as an engineer and entrepreneur in the field of property. Some famous examples of business include Jaya Group, Metropolitan Group, and Ciputra Group. He is also known as a philanthropic figure who focuses on education.

Ciputra’s Childhood

Since childhood, Ciputra had felt a hard struggle, the father of Ciputra was arrested by unknown armed forces because he was accused of being a Dutch spy and there was never any news after that. Since then, little Ciputra has had to help her mother to sell cakes and help take care of her pet cow to supplement family income. Even though Ciputra was a naughty child at the time, he still wanted to work hard to help his mother to earn money.

Starting a Business on College Stools
Ciputra is one of the children who was late entering elementary school, he only entered elementary school when he was 10 years old. Even so, he is still passionate about going to school by walking as far as 7 KM without using footwear every day just to be able to go to school. When he graduated elementary school at the age of 16 years, Ciputra continued his schooling at Brother Don Bosco Middle and High School in Manado City. After graduating from high school, he was determined to have a better future and decided to move to Java and be accepted as a student at the Bandung Institute of Technology (ITB) majoring in Architecture. With a high enthusiasm for learning, in the fourth semester, Ciputra has started to establish its first business by inviting friends named Ismail Sofyan and Budi Brasali to establish a building architecture consulting service named PT Daya Cipta which has an office in a garage.

Get an Engineer Degree

Before graduating from ITB, Ciputra had gotten a decent job contract from a consulting service created with his friend. In 1960, Ciputra completed his architecture education by earning an Engineering degree. Since then Ciputra moved to the city of Jakarta, because it was in Jakarta that he felt more suited to finding work in accordance with his expertise. When in Jakarta, Ciputra married a woman named Dian Sumeler and lived in the Kebayoran Baru area, South Jakarta.

Principal Capital is a Good Concept
Ciputra once gave advice that “Capital is not an obstacle which is a reason for not advancing. If you don’t have capital but have a good concept, you can work with other people who have capital “. With a good concept capital, Ciputra finally worked at PT Pembangunan Jaya, a regional company owned by the DKI Regional Government. His brilliant career led him to become directors and advisers at Jaya Group. When joining there, Ciputra was given the freedom to build the Taman Impian Jaya Ancol theme park project.

Don’t be complacent easily
Together with his friends Sudono Salim, Budi Brasali, Ibrahim Rasyid, and Sudwikatmono, Ciputra established a Metropolitan Group company to build luxury housing in Pondok Indah and Kota Mandiri Bumi Serpong Damai or better known as BSD Serpong. Ciputra’s position at that time was the President Commissioner at the Metropolitan Group, as well as the Directors and Advisors at the Jaya Group. After success in the two big property companies, Ciputra was not complacent, until finally he founded a family company called the Ciputra Group.

Not easily discouraged
During the big economic crisis in Indonesia in 1998, the three companies led by Ciputra experienced the effects, starting from the Jaya Group, the Metropolitan Group and the Ciputra Group. Although the three companies have made massive savings, Ciputra Group was forced to lay off seven thousand employees, so that only about 35% of the total employees were left, and the surviving employees had to receive a 40% salary cut to keep the company going. Two companies in the Ciputra Group that could not be saved were Bank Ciputra which was closed down by the government because it was deemed unfeasible and Ciputra Allstate’s Life Insurance which was only initiated before the economic crisis in Indonesia also closed.